Thursday November 18th, 2010
Active Venture Partners, the Barcelona-based venture capital firm has invested in Oooferton.com after confirming the soundness and the expected growth of the company.
After a year and a half of operation, the first Spanish Liveshopping platform is strengthening its position with more than 286,000 members and 88,000 registered buyers with a growth of between 6,000 and 7,000 new users per month.
Oooferton has become the industry reference platform among male online buyers in Spain, thanks to its commitment to selling high-end electronics, as well as fashion and leisure products.
The company which is based in Barcelona is expecting to close the year with 2.4 million euros in sales. Oooferton’s unstoppable growth is partly due to its highly interactive platform, according to its founder Luis Krug, who gets about 10% of its sales through Facebook where they have more than 37,000 fans. To share the success with its customers, Oooferton has revamped the image of its website, improving its functionality and offering even better deals.
According to Luis Krug, the success of Oooferton is based on “the great prices we offer for our high-end technology products, gadgets and trendy fashion products. We are affordable luxury in times of crisis.”
The business model of the Spanish company is inspired by a successful US platform, woot.com, a reference in online sales, recently acquired by the giant Amazon. Oooferton follows the trail of woot.com and its continuous progression confirms the recent statistics from the sector, that the average growth rate of e-commerce in Spain is 40% per annum.
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